BRENHAM CITY COUNCIL REFINANCES BONDS

  

“We’re in the money” when it comes to bonds the City of Brenham took out seven years ago, according the city’s financial advisor Garry Kimball of Specialized Public Finance, and that’s why the city should refinance more than $5.1 million in bonds, in order to save a half million dollars over the next seven years.

Kimball told the Brenham City Council at today’s (Thursday’s) meeting that when the city took out these bonds the interest rate was almost four percent but now the rates are half that.

Kimball told the Council that the city would save between $66 and $76,000 each year.

The Council approved and the city will refinance the bonds.